Review from Juliemac (3359 views)
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Review of: ClearDebt
Review date: 21 December 2007
Insolvency Practitioner who handled case: David Emanuel Merton Mond
I proceeded as far along as: Accepted IVA
The solution I opted for in the end: IVA
Speed of response
No of days to make a decision after I spoke to IVA company: 1 days
Weeks to IVA proposal after decision made: 2 weeks
Weeks to IVA accepted/rejected after decision made: 2 weeks
IVA Company Ratings
Their debt solutions expertise:10 out of 10
Their customer service:10 out of 10
Their speed of response:10 out of 10
Overall Company Rating:10 out of 10
Insolvency Practitioner Ratings
The quality of IVA proposal:10 out of 10
Overall Insolvency Practitioner Rating:10 out of 10
I am a secretary living in London, separated, with a 14 year old daughter. I had approximately £46,000 of debt and no equity as I live in rented accommodation. Due to a one-off Christmas bonus, my Child Tax Credit reduced by £120 a month, so I had to start using credit cards to pay for rent, food etc. Went on like this for over two years before I realised it had got totally out of hand and all my credit cards had reached their limit. Had managed to pay minimum amounts up until then, but fell behind with payments and started to receive letters and phone calls at home and at work.
My interaction with the company:
I researched IVA companies on line and found ClearDebt had many good reviews, so completed their on-line debt analyser. Before Id finished, I had a call from them asking if they could help. They went through everything with me, explained my options and decided that an IVA was the best route to take. Made a few amendments to my outgoing figures, and worked out a realistic figure for the IVA proposal. I received the documents 2 days later, completed the forms, found all the information they required and returned them. One week later, the final IVA proposal documents were returned to me to check and a week after this, they arranged a creditors meeting. The meeting was held at 12.00 and they rang me 20 minutes later with the results of the vote. My IVA had been accepted with an increase of £50 per month, which was easily do-able within the allowances I had been given. To say I was relieved would be a gross understatement.
Why I gave the ratings I did:
I rated them 10 out of 10 because they were very understanding and helpful during what was a very stressful and upsetting time for me. After they had sent out documents, they rang to see if I needed any help with them. I emailed them a few times and received a very quick response. I would have no hesitation whatsoever in recommending them to others.
One thing they did - which really impressed me:
Two things which really impressed me were the speed at which all the documentation was prepared and sent out and the helpfulness all the staff to whom I spoke.
One thing they did - which I felt could be improved:
I do not think anything could be improved upon.
Have just paid my first instalment under the IVA and am actually looking forward to Christmas this year. In future, I will pay for everything with cash and even when the IVA is completed and I may be able to get credit, I will not. I will NEVER get into this situation again. Not sure of the agreed dividend under my IVA, but over half of my debts were written off.
Community Comments of this review
- 5 out of 5
- 5 out of 5
- 07 January 2008
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everything that was done, from start to finish was exceptional!
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